According MarketsandMarkets’ report "Chip Scale Package (CSP) LED Market by Application, Power Range, and Geography - Global Forecast to 2023", the chipscale package (CSP) market is estimated to be $757.7 million in 2018 and is likely to reach $1,744.8 million by 2023, at a CAGR of 18.2% between 2018 and 2023. The low-cost potential of CSP LEDs with a low bill of materials, is a major factor driving the growth of the CSP LED market. High competition in the packaged LED market has led to the development and launch of new and innovative CSP LEDs with improved designs and high-end specifications.
- General lighting and automotive segments to define the growth of CSP LED market in next five years.
- High-power CSP LEDs to be the focus of CSP LED suppliers during the forecast period.
- APAC to account for the highest demand for CSP LEDs in the next five years.
- Major players in the market are Lumileds (The Netherlands), Samsung (South Korea), Seoul Semiconductor (South Korea), LG Innotek (South Korea), OSRAM (Germany), Nichia (Japan), EPISTAR (Taiwan), Cree (US), Genesis Photonics (Taiwan), and Lumens (South Korea).
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